“China’s property sales slump persisted in January with top developers seeing a steeper decline in transactions… The 100 biggest companies in China’s debt-ridden property industry suffered a 39.6% drop in sales from a year earlier…
“Home sales have been falling since July last year, as buyer confidence weakened during a liquidity crisis that rippled through the industry following a crackdown on excess borrowing. The decline in transactions is worsening the cash crunch for property firms…”
https://www.bloomberg.com/news/articles/2022-01-31/china-home-sales-slump-deepened-in-january-in-blow-to-economy